WestLB Reports Loss, Warns
Of Further Staff Reductions

FRANKFURT -- German state-owned bank WestLB AG posted a first-half loss of &euro;359 million ($407.3 million), and warned of further staff layoffs despite a year and a half of previous cutbacks.

The bank took risk provisions of &euro;615 million for the first half of the year, including an extra charge for its exposure to United Kingdom television-rental company BoxClever that was demanded by Germany's financial regulator,...